Stock investors earn N59.42bn as NGX opens week positive

The local equities market index rises by 0.29 per cent amid sustained bullish activity.

At the close of trading activities at the Nigerian Exchange (NGX) Limited on Monday, the All-Share Index (ASI) advanced by 0.29 per cent to close at 39,312.74 basis points amid positive investors sentiment.

Consequently, Investors earned N59.42 billion as the market’s worth closed at N20.43 trillion when compared with N20.43 trillion it recorded at the close of trading activities on Friday.

Hence, the Year-to-Date (YtD) loss of the NGXASI fell to -2.37 per cent even as the Exchange made more gainers (28) than losers (15) on Monday.

Specifically, the market movers of the day were tier 1 banking stocks such as Zenith Bank, Guaranty Trust Bank, Access Bank and United Bank for Africa as their share prices rose by 3.60 per cent, 2.56 per cent, 2.45 per cent and 1.40 per cent respectively.

Sectorial performance was also positive as three out of the five indices tracked closed in the green zone; the NSE Banking, NSE Insurance and the NSE Industrial indices increased by 2.89 per cent, 1.33 per cent and 0.08 per cent respectively.

On the flip side, the NSE Consumer Goods and the NSE Oil/Gas indices fell by 0.26 per cent and 0.08 per cent respectively.

Meanwhile, trading activity was upbeat as a total deal, volume and value of stocks traded rose by 23.31 per cent, 35.68 per cent and 11.10 per cent to 4,867 deals, 0.32 billion units and N3.2 billion respectively.

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FULL TEXT: A viral post on WhatsApp is asking N-Power candidates to verify the status of their application and see if they have been shortlisted for the batch C cash grant…Stock investors earn N59.42bn as NGX opens week positive

Stock investors earn N59.42bn as NGX opens week positive